QIB joins hands with UnionPay International
By Leandra Monteiro
Qatar Islamic Bank (QIB), Qatar’s digital bank, has announced its partnership with China-based UnionPay International (UPI), one of the largest card payment organizations in the world, allowing UnionPay’s contactless cards to be accepted on all QIB POS terminals and ATMs in Qatar.
With Qatar set to host several major tournaments and events in the upcoming year, an influx of visitors is expected to flock to Qatar including visitors from China and other Asian countries. Since UnionPay has been a preferred card for many visitors in the previous year, this partnership emphasizes QIB’s commitment to moving to a cashless society and helps make it convenient for UnionPay cardholders to pay for services on all QIB POS terminals.
Tarek Fawzi, QIB, Wholesale Banking, Group General Manager said, “We are pleased to be working with UnionPay to give access to more mobile payment technologies in Qatar. This partnership will play an important role to further promote digital payments in Qatar by offering advanced, secure, and efficient payment processing services for all UnionPay cardholders and ensuring smooth cross-border payments.”
James Yang, UnionPay International, Middle East, General Manager said, “We are proud to be joining forces with the leading digital bank in Qatar to provide several payment opportunities to our cardholders, particularly visitors to Qatar. Through this joint venture, we are close to achieving full coverage in Qatar for UnionPay cardholders in line with our strategy to address the growing demand for contactless payments around the world.”
IBSi Daily News Analysis
December 05, 2023
Why joining forces is key to boosting bankability and bridging climate finance gapsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage